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Global Reporting Initiative (GRI) | Report

   

Added on  2020-03-16

15 Pages5111 Words115 Views
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2Executive SummaryIn this report, we look at the presentation on sustainability reporting orthe Global Reporting Initiative (GRI), an extensive documentation containing guidelines to businesses to voluntarily develop sustainability reports. Sustainability is a concept that is based on three pillars (triple bottom line) or areas of action: the economic area, and the area of social action and environment. The purpose of the report is to contribute to the information disseminated by companies on three aspects for easier comparison and analysis of corpoarategoverenance procedures. From the conceptual framework for the development of information about corporate social responsibility, the report analyzes the economic, social and environmental information included in the Guide while also adding to the weaknesses contained in the proposal made by the GRI.(Anheier and Juergensmeyer, 2012).Table of ContentsPART A....................................................................................................................................3Introduction.........................................................................................................................3Sustainability Reporting and Disclosure Analysis.................................................................3

3Corporate Decision Making & Social Responsibility Issues...................................................5Sustainability Accounting Reporting Principles....................................................................6Part B......................................................................................................................................8Differences in the Quality of Sustainabilty...........................................................................8Reporting and Disclosure Analysis Comparisons................................................................10Corporate Social Responsibility;.........................................................................................10Part C....................................................................................................................................11Communication in Corporate responsibility.......................................................................11Social-environmental responsibility...................................................................................12Recommendations and Conclusion....................................................................................16References............................................................................................................................17PART AIntroductionDue to the growing attention to ethical and social dimension of a company, the responsibilities are projected beyond the realms of shareholders and creditors. Corporate Social responsibilities and good governance have been made impotant due to the societal need for growth as the company grows. By part, the last few years have witnessed the emergence of anumber of corporate governance basically aimed at protecting inter-minority shareholders. Companies with securities admitted to trading. Butsecondly, the adoption of codes of corporate governance,

4the social dimension of the company manifests itself in the assumption of responsibilities towards the wide range of stakeholders (The GRI sustainability reporting cycle, 2007).In response to the attention of the stakeholders, companies are beginning to adopt management systems that include variables of social content and environmental protection while they strive to communicate abroad the scope of their commitment.Sustainability Reporting and Disclosure AnalysisFor sandfire sustainability report, the Global Reporting Initiative framework is enumerated inthe period 1 july 2014 to 2015 and covers the copper gold mine of Degrussa. The prerfomance highlights for the year ended 2015 were as follows, $69 million annual net profit after tax, $ 546.8 million in salees revenues and loyalties and taxes amounting to $43.1 million. The firm entails five major business functions which include exploration, mining , delivery, processing and rehabilitation.For purposes of sustainability, Sandfire has several committees and individuals that are fundamentally important in this reporting. They include; Board, Audit & risk committee, remuneration & nomination committee, management and sustainability committee. Risk management and code of conduct and whistle blower protection policy are the functions forthe sandfire sustainability framework. Sustainability at sandfire is build under three pillar which are economic, social and environmental awareness and benefits to our stakeholders. The supply chain in the mine is factored in the sustainability reporting.The case study for Sandfire is Yagahong Alliance and for the support of the employees several members of staff have been given scholarships to study for their diplomas, bachelors, higher diplomas and masters who total 16 (Schreck, 2009).The recognition of a responsibility above the limits is exclusively an economic classical theory.It introduces us to other agents with interests in the firm to whom the general reporting will be legitimized. The legitimation process of the entity is based onthe existence of social groups and reference towards those who are in PR. The information is directed and communicated by the company in relation to its actions. It should be noted, however, that for various reasons, which may be cited as the recent incorporation of this approach and derived conflicts of such adoption, there is no consensus on the contents that should cover the information social basis (Kerzner, 2014).

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